MARKETING EXAM

Manager

someone who coordinates and oversees the work of other people so organizational goals can be accomplished

First line

Managers at the lowest level who manage the work of the non managerial employees

middle line

between first and top line

top line

make organization wide decisions and establish the strategy and the goals that affect the entire org

organization

deliberate arrangement of people to accomplish a specific purpose

what do managers do

coordinate and oversee work activities of others to ensure that they are completed efficiently and effectively

Efficiency

minimizing resources - getting most output from the least input

effectiveness

doing the right things and attaining organizational goals

P in POLC

planning - setting goals

O in POLC

organizing - structuring resources

L in POLC

leading - motivating and inspiring

C in POLC

monitoring and correcting

management skills

technical skills, human skills, conceptual skills

intuitive decision making

making decisions on the basis of experience and judgement

procedure

steps

rule

statement

guideline

guideline

globalization

cross-border business influence

nationalism

home first policies

parochialism

narrow, home only view

ethnocentric

home country is best

polycentric

host country knows best

geocentric

best practices worldwide

stages if firms going international

• exporting and importing

• licensing and franchising

• alliances and joint ventures

• subsidiaries

WTO (World Trade Organization) 95

deals with the rules of trade among nations

NAFTA 94

North American Free Trade Agreement

surface level diversity

differences you can visually see

deep level diversity

differences that are internal

title 7 civil rights act

cannot discriminate in the workplace

omnipotent view on management

managers are directly responsible for an organizations success or failure

symbolic view of management

organizations success is due to external forces outside managers control

race

physical characteristics

ethnicity

social and cultural factors

GLOBE

global leadership and organizational behavior effectiveness program: the research program that studies cross cultural leadership behaviors

multidomestic corporation

an MNC that decentralizes management and other decisions to the local country

global company

an MNC that centralizes management and other decisions in the home country

transnational or borderless organization

an MNC in which artificial geographical barriers are eliminated

USMCA

updated NAFTA

socialization

a process that helps new employees learn the organizations way of doing things

organizational culture

the shared values principles traditions and ways of doing things that influence the way organizational members act and that distinguish the organization from other organizations

six dimensions of organizational culture

1) adaptability

2) attention to detail

3) outcome orientation

4) people orientation

5) team orientation

6) integrity

general environment

everything outside the organization

specific environment

part of environment consisting of crucial constituencies or stakeholders that can positively or negatively influence an organizations effectiveness

anchoring effect

fixate on initial information and do not adjust to new information

framing bias

select and highlight certain aspects of a situation while excluding others

availability bias

remember events that are the most recent and vivid

representation bias

asses the likelihood of an event based on how closely it resembles other events 

random bias

create meaning out of random events

sunk cost errors

current choices cant correct the past

contigency approach

recognizes organizations as different , which means they require different ways of managing

system

a set of interrelated and interdependent parts arranged in a manner that produces a unified whole